USDUSD weakened yesterday but did not change much. EUR/USD rose to 1.2830 and the GBP/USD rose to 1.8970 level. Oct leading indicator rose 0.2%, matched the market expectation but still below Sept's 0.4%. Overall Yen and CAD are the weakest currencies recently. At the G20 meeting the members did not [full report]
USDThe dollar rebounded from the recent low yesterday. EUR/USD fell slightly to 1.2950 and GBP/USD fell from 1.9170 to 1.9150 level. Yesterday was the Thanksgiving day and the currency market was quiet. Recent USD weakness was due to the moderate inflation and economic data. The Core CPI fell from 2.9% [full report]
USDThe dollar weakened last Friday. EUR/USD breached the year high and rose to 1.31 level. GBP/USD gave away 1.9150 critical resistance and rose to 1.9350. Last Friday US did not have important economic data released and the market believed that the US economy was slowing and the US Fed would [full report]
USDYesterday morning the USD fell sharply across the board. The major currencies against the dollar gapped up in the morning and refilled the gap later on. The market believes that the US economy is slowing and next year Q1 will be likely to cut the rate which pressures the dollar. [full report]
USDThe dollar weakened across the board yesterday. EUR/USD rose to 1.32 and the GBP/USD rose to 1.95 level. Oct Durable good orders fell 8.3% which was far below the Sept's 8.7% growth, the largest drop since 2000. Later the Existing home sales printed at 6.24M and rose 0.5% from the [full report]
USDThe dollar rebounded yesterday but overall did not move much. Q3 GDP revised up from 1.6% to 1.8% which lifted up the USD immediately. However, the residential investment fell 18% which was the biggest drop since 1991. Besides, the Core PCE index revised down from 2.3% to 2.2% which showed [full report]
USDThe dollar weakened yesterday. EUR/USD rose to 1.3250, and GBP/USD rose to 1.9650. Nov Chicago PMI fell from 57.0 to 49.4, below the market expectation of 55.0, the lowest level since 2003 April. The PMI data was below 50 which indicated that the manufacturing industry was diminishing. Later the Oct [full report]
USDThe dollar weakened further last Friday due to the soft economic data. Nov ISM index fell from 49.5 to 51.2. Besides, Oct Construction spending fell 1%, below Sept's -0.8%. The US housing market was cooling, and the economic performance was slowing. The market believed that the US Fed would be [full report]
USDUSD weakened again yesterday. EUR/USD rose to 1.3368 and GBP/USD rose to 1.9847. Yesterday US did not have any important economic data released and the USD traded within a tight range. At this moment the market sentiment is still bearish to the dollar and investors should follow the trend rather [full report]
USDUSD still traded in tight range yesterday because investors were waiting for the Friday's employment report. Yesterday the Nov ISM service index rose from 57.1 to 58.9 which stabilized the soft dollar. European currencies maintained the strength due to the solid interest rate and economic outlook. I believe that before [full report]
USDUSD consolidated within the tight range recently because the market was waiting for the Friday's employment report. EUR/USD fell to 1.3280, and GBP/USD fell to 1.9620 level. Overall the dollar is still bearish and investors should sell the dollar at the high rather than buying the dollar. According to the [full report]
USDThe dollar is still trading within the tight range and the market waits for the employment report. Yesterday the jobless claims fell from 358k to 324k which supported the USD in the short term. According to the CBOT fed fund futures, traders priced in the chance for the rate cut [full report]
Falling Dollar Unconvinced by Retail Aberration in Payrolls
The dollar tumbles across the board after US November payrolls came in at a stronger than expected 132K, from a sharp downward revision in the October figure to 79K from 92K, while the unemployment rate rose to 4.5% from 4.4% in line with [full report]
Explaining Today's Dollar Whipsaw
Today's Forex market activity was a classic example of vindicating charts analysis over the news and the noise.
The US dollar rallied for about 10 minutes following the stronger than expected payrolls, dragging the EURUSD pair from 1.3270 to 1.3230 and the yen from 115.60 to 115.85.
But [full report]
USDUSD strengthened last Friday. EUR/USD fell to 1.3160, and GBP/USD fell to 1.9500. Oct Non-farm payroll rose 132k which supported the dollar. Later the unemployment rate rose back from 4.4% to 4.5% and the dollar fell again. In the late trading hours, US Treasury minister Paulson supported the strong dollar [full report]
Today's Forex market activity was a classic example of vindicating charts analysis over the news and the noise.
The US dollar rallied for about 10 minutes following the stronger than expected payrolls, dragging the EURUSD pair from 1.3270 to 1.3230 and the yen from 115.60 to 115.85.
But short-term trading ensued on [full report]
USDUSD weakened yesterday. EUR/USD rose to 1.3250 and GBP/USD rose to 1.9590 level. Yesterday Greenspan said that the dollar will continue to fall unless the current account deficit narrowed. Traders shorted the dollar after his speech and the market refocused on the central bank reserve diversification which was bearish to [full report]
USDThe dollar weakened yesterday. EUR/USD rose to 1.3280 and GBP/USD rose to 1.9700 level. US Oct Trade balance narrowed from 64.3billion to 58.9billion, the largest drop since 2001. The data supported the dollar in the short term. Later on the FOMC announced the rate decision and maintained the fed funds [full report]
USDUSD rebounded yesterday. EUR/USD fell to 1.3190, and GBP/USD fell to 1.9650 level. Nov retail sales rose from -0.4% to 1% growth, and above the market expectation of 0.2% which supported the dollar yesterday. I believe that the firm retail sales data is due to the holiday season effect. According [full report]
USDThe dollar rose up yesterday. EUR/USD fell to 1.3140 and GBP/USD fell to 1.9600. US Nov imported price index rose 0.2%, first time since Aug this year. The data showed that the US still have short term inflation risk and traders bought the dollar after that. Later the NZ Empire [full report]
USDUSD strengthened last Friday. Although Nov Core CPI fell from 2.7% to 2.6% growth, the Oct net capital inflow rose sharply from 70.2 billion to 82.3 billion. In addition, the Nov Industrial production also rose 0.2% which supported the dollar. I believe that the USD will continue its rebound mode. [full report]
USDThe dollar rebounded yesterday but still traded in tight range. US Q3 current account deficit widened to 225.55 billion, accounted for 6.8% of the GDP shares. However, this year the market is not focused on the twin deficit and the dollar has not been affected much by the data. Investors [full report]
USDThe dollar weakened yesterday, EUR/USD rose to 1.32 and GBP/USD rose to 1.97 level. The housing data was mixed. Nov New home starts printed at 1588k which was above Oct 1488k. However, Nov Building permits fell from 1553k to 1506k. The overall housing data still showed that the US housing [full report]
USDThe dollar strengthened yesterday. EUR/USD rose to 1.3180 and GBP/USD rose to 1.9660. USD traded within the tight range before the Christmas holiday. According to the CBOT fed funds futures, traders priced in around 14% chance for the rate cut which the dollar gets support from it. Investors should wait [full report]
Today's core PCE price data have finally produced the confirmation that an inflation slowdown is underway. The month-to-month core PCE price index slowed from 0.2% to 0% in November, the lowest level in 5 years -- when rounding it to 2 decimal figures at 0.04%. The year on year level [full report]
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